September 24, 2019 / 9:28 PM / 25 days ago

Germany's TeamViewer valued at 5.25 bln euros in IPO

FRANKFURT, Sept 24 (Reuters) - German software company TeamViewer priced its initial public offering on Tuesday at 26.25 euros per share, valuing the connectivity specialist at 5.25 billion euros ($5.8 billion) in Europe's biggest stock market listing this year.

The float marks a rare tech success story on a Frankfurt market heavy with industrial and auto stocks. It is also delivering a bonanza for Permira, the private equity investor that bought TeamViewer for 870 million euros in 2014.

Pricing was near the top end of a range set before a two-week roadshow to market the deal to investors. Permira is selling a 42% stake in TeamViewer, including over-allotment options, and will retain the remaining 58%.

That generated total proceeds of 2.21 billion euros for Permira - more than the 2 billion euros raised when Italian payments group Nexi floated in Milan this April.

Trading on the Frankfurt Stock Exchange will begin on Wednesday. ($1 = 0.9080 euros) (Reporting by Douglas Busvine Editing by Chris Reese)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below